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, but the price rose from this area and has been rising ever since. The US inflation release was a good example of “buy the rumour, sell the fact”, as markets quickly began to believe that the data was not as bad as it had initially appeared, sparking a risk-on rally at the end of last week which has continued into this week.
This new weakness in the US dollar and strength in risky assets, the latter of which of course includes Bitcoin, has pushed the price up over recent days in a strong, multi-wave bullish move, which has been successful inThe risk-on environment may crumble later today if inflation data releases are unexpectedly very high, or if it becomes clear tomorrow that the European Central Bank is in real trouble.
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